Spring Airlines secures loan for up to 450m yuan share repurchase

Spring Airlines Co., Ltd. has received a loan commitment letter from Industrial Bank Co., Ltd. Shanghai Branch, providing financing support for its ongoing share repurchase program. The commitment specifies a loan amount not exceeding 450,000,000 yuan, which also will not exceed 90% of the maximum repurchase amount, for a term of up to three years. The purpose of this loan is specifically for repurchasing the company's shares.

This commitment follows the board's approval on August 27, 2025, to repurchase shares using both self-owned and self-raised funds. The repurchase program has a duration of 12 months from the board's approval, with a maximum price of 65 yuan per share (inclusive). Following a semi-annual profit distribution on October 17, 2025, the maximum repurchase price was adjusted to 64.57 yuan per share (inclusive). The total repurchase amount is projected to be between 300,000,000 yuan and 500,000,000 yuan, with all repurchased shares intended for an employee stock ownership plan.

The company emphasized that while the commitment letter provides financing support, it does not represent a commitment from the company regarding the final repurchase amount. The actual amount and number of shares repurchased will be based on the disclosed implementation results. Spring Airlines will adhere to relevant regulations and make repurchase decisions based on market conditions, while also fulfilling information disclosure obligations.